Tobacco investor defends £1bn of shares in the industry

One of the UK's best-known investors, Neil Woodford, has defended himself against claims he is endorsing an industry that other investors have shunned.

Mr Woodford, who owns over £1bn worth of shares in tobacco companies, told Wake Up to Money that during his career the industry has 'outstripped every single other sector by a mile'.

Establishing himself as one of the UK's best-known investors while running funds for Invesco, Mr Woodford set up his own firm in 2014, and now manages around £14bn of clients' funds.